- Mar 29, 2010
Didn't include the UK, last time I checked the UK was an EU country outside the Eurozone. The likes of San Marino, Bosnia-Herzegovina, Andorra, VCS and I think the Kosovo region, non-EU countries tied to the currency as examples of the Euro outside the EU to contrast.And the UK! Everyone overspent and borrowed too much. The difference is that those in the Eurozone are screwed because Germany is doing very well and teh Euro is run for the German economy whereas those out of the Eurozone can print away and devalue. Some looney leftie on here this morning was trying to argue that the Euro fits all and that I was some kind of Europhobe. The Left always resort to name calling when in the wrong. Well, the Euro does not fit all and therefore Ireland, Spain and Portugal will be made to suffer for being a member of the Euro club.
That said, it was not the Euro per se that caused Ireland's demise, it was weak Government and personal greed. The Euro just facilitated this by introducing interest rates that were too low for the Irish economy.